News

Bloomberg FirstGroup Plc, under pressure from activist investors, is exploring options including a possible disposal of its North American school bus and transit divisions, extending a breakup strategy that already encompasses a planned sale of the iconic Greyhound brand. The Aberdeen, Scotland-based group has appointed Rothschild to help advise on the sale of its First Bus and First Transit divisions, ...

Bloomberg FreeNow, the ride-hailing venture owned by Daimler AG and BMW AG, expects to double revenue this year and next in a fresh challenge to Uber Inc in Europe and Latin America. FreeNow’s so-called gross merchandise volume, which mirrors revenue, is forecast to reach about 2.4 billion euros ($2.7 billion) in 2019, Chief Executive Officer Marc Berg said in an ...

BRUSSELS / WAM During a forum held in Brussels, attended by Omar Ghobash, Deputy Minister of Foreign Affairs and International Cooperation for Cultural Affairs, European parliamentarians and representatives of various religions called for the continued implementation and monitoring of the Document on Human Fraternity for World Peace and Living Together. The document was signed on February 4, 2019 in Abu ...

Bloomberg Saudi Aramco shares advance for a third session — though the market valuation remained below $2 trillion — with investors focusing on energy company’s inclusion in major global equity indexes this week. The stock climbed 1.6% in Riyadh, extending gains since it started trading on Wednesday to 17%. The main Saudi index also advanced, along with most peers in ...

DUBAI / WAM Dubai Customs organised a meeting to discuss future of trade and latest trends in the supply chain, following UAE leadership’s ‘2020: Towards the Next 50’ announcement. Next year will witness the biggest national strategy to prepare for coming 50 years on the federal and local level as the country approaches its Golden Jubilee in 2021. In the ...

NEW DELHI / WAM The Indian state of Madhya Pradesh has announced plans for developing economic relations with the Arabian Gulf countries. The state government will organise a ‘Mini-Investors’ Meet’ next year in the state capital Bhopal, which will be exclusively focused on enhancing investment ties with the Gulf. This was announced in a report on the outcome of the ...

Dubai / WAM Emirates Central Cooling Systems Corporation (Empower), announced pilot operation of the world’s first unmanned cooling plant at Jumeirah Village Circle in Dubai, with a total cooling capacity of 50,000 Refrigeration Tonnes (RT). Empower explained that the highest international standards have been maintained in the construction and building design of the new plant, as it took into account ...

Dubai / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, will preside over a UAE delegation on an official visit to China that aims to diversify and strengthen environmental cooperation between the two countries. Scheduled to run from December 18-21, the agenda will feature multiple high-level meetings with Chinese officials to explore best practices and ...

Dubai / WAM Brand Dubai, the creative arm of the Government of Dubai Media Office, on Sunday signed a Memorandum of Understanding (MoU), with Dubai Municipality to undertake beautification projects across Dubai to enrich the city’s urban landscape. The collaboration supports the shared strategy of both organisations to enhance the aesthetic ambience of the city and transform key neighbourhoods into ...

Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD), has contributed $10 million (AED36.7 million) towards the development of the Samandini Dam in Burkina Faso. Supporting the country’s strategic objectives, the funded project is part of the Samandini Basin Development Programme that aims to promote sustainable growth in rural areas and improve living conditions through boosting the agricultural ...